Former Royal Bank of Canada vice president of mergers and acquisitions Artem Pirogov joined the corporate development and M&A group at General Motors Co., according to Vlaad and Co., a Toronto-based financial services recruiting firm.
Flagstone Foods, the Minneapolis- based holding company for Ann’s House of Nuts and Amport Foods working with banks to explore a sale, may be valued at about $1 billion, people with knowledge of the matter said.
American Apparel Inc. used to enthrall 16- to 25-year-olds with its neon bike shorts and lace- thong leotards. Now, it’s just trying to raise enough cash to keep creditors at bay for at least six more months.
Houlihan Lokey, the closely held investment bank that started advising on secondary sales of private-equity and hedge-fund stakes fours years ago, plans to more than double staff in that unit to 20 professionals or more as it expands into sales of other illiquid assets.
U.K. service co. asked lenders to waive leverage covenant on its loans. * Request was made at lender meeting in London yesterday * Co. and owner Charterhouse Capital have hired Rothschild and Allen & Overy as advisers; Houlihan Lokey and Freshfields Bruckhaus Deringer are advising senior lenders * Information from a person familiar with the matter, who asked not to be identified because the deal is private * Gary Sunderland, the head of information resources at Charterhouse, declined to comment on the waiver and appointments * NOTE: Feb. 20: Co. breaches leverage covenant at December test date after ratio rises to 7.97x * NOTE: Jun. 7: Charterhouse paid GBP13m to lower co.’s debt ratio after ratio of debt to Ebitda reached 7.8x compared with 7.5x limit
American Apparel Inc. bondholders hired Houlihan Lokey and Milbank, Tweed, Hadley & McCloy LLP as advisers in preparation for restructuring negotiations with the troubled retailer, two people familiar with the situation said.